Horse Racing Betting Odds
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What are the Odds?: The Bill Waterhouse Story $26.94 Bill Waterhouse has worked the track for more than 70 years, his first day as a bookmaker in his own name was Epsom Day 1954. Henry Waterhouse, his ancestor, brought horses to Australia with the First Fleet . This family had no choice but to follow their destiny and become ”the” dynastic Australian horseracing family and we are now into the fourth generation of Waterhouse bookmakers. Bill was a p… |
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The Odds Must Be Crazy: Beating the Races with the Man Who Revolutionized Handicapping $23.95 Having honed his charts to a high art over the last twenty years, a horseracing expert now explains the system that has made him a legendary figure, detailing the nuts and bolts of handicapping and successful betting, along with his own life story. 15,000 first printing…. |
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Horse Racing Betting Handicapping Odds Must Be Crazy $40.00 |
This is a question about probability in regard to sporting odds most notably horseracing.?
Betting on a treble over 3 races. Horse 1 has odds of 11/1 implied probability of winning 8.33%, horse 2 has odds of 16/1 implied probability of 5.88% and horse 3 has odds of 20/1 implied probability of 4.76%. It would be straighforward to say just multiply the odds or percentages to come up with the odds of this treble happening, but is that correct? Given that the selections are over 3 seperate events rather than for 3 selections from one lottery what is the real probabilty of the treble coming up and what is the formula for calculating it?
0.0833 x 0.0588 x 0.0476 gives the right answer which is the reciprocal of 12 x 17 x 21 = 4284/1.Otherwise 4283 to 1.
The calculation below has two too many noughts after the decimal point. The more precise calculation is done by multiplying the reciprocals 12,17 and 21. Then 1/4284 = 0.0002334.
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